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20121101
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Search Results 0 to 7 of about 8 (some duplicates have been removed)
california, the tax capital of the world, taxes could now go even higher for those earning more than $250,000 a year, or maybe a lot higher because a republican congressman seas we should freeze tax rates for the majority of the americans in time for christmas and deal with the top 2 percent who likely see their rates raised later. that triggers this reaction from house of representatives speaker boehner. >> i told tom i disagreed. you are not going to grow the economy if you raise tax rates on the top two rates. it will hurt small business. it will hurt our economy. that is why this is not the right approach. >> now the guy at the center of the tax storm, oklahoma republican congressman, congressman, he singled you out for calling you out. how do you feel about that? >> i like the speaker. we have a great relationship and we are able to talking directly and honestly with each other and i have no problem with it. i would expect him to express his opinion as he would expect me to express mine. >>neil: he is saying you are precaving. >>guest: that is nonsense. the reality is, tax rates go u
out here in california, you look what happened on the national level, nothing changes. congress did not change one bit. the administration doesn't change one bit. nothing happened the last fur years. and it will not happen the next four years. a big day for redistribution. a big day for big government. a big day if the unions. i don't think anything will change going forward. >>neil: you are right about that so that means trillion dollar gifts build up year after year and we do not yesly address spending and both sides are doing everyone coming closer but you you are not buying it. >>guest: even if they do address this cliff, it is a small piece, i mean, it is acn. medicine on a major disease. it is not going to fix the direction we are on. we are headed to 50 percent of the g.d.p. in the public sector. that becomes very much a directed economy opposed to the invisible hand and a more efficient less corrupt and more libertarian or personal freedoms kind of economy. we are just not there anymore. >>neil: do you think the markets need a deal? more days like this, that will push congre
. here we go. >>reporter: that is true if the live in the state of california or someone like you would works, why know if you live in new york but you work in new york and the tax rates in new york city could go do 50 percent and california as high as 52 percent, we have not seen rates that high since the 1970's. >>neil: leave aside what will happen on health care people forget this is a lot more than just returning to the clinton top rate of 39.6 percent. it is about going well beyond that and the fact that democrats are feeling their oats after the election and saying, look, this isn't about just marginal rates but the marginal rates and this, not either, or, but "and" this. >>guest: that is what chuck schumer said before the election, saying close loopholes and raise the rates at the same time, which is exactly the opposite of tax reform. >>neil: how does a guy like that who represents the financial capital of the world sort that out and its economic impact. >>guest: this is an important point i am glad you brought it up. what is the financial capital of the world? new york wants to
was in california yesterday, and i did see that, i saw people going to nevada, a neighbor state where the tax situation is not as onerous, and, it is really going on but here with the mobility if our country in the various income tax rates that are different but the company is trending higher. what do more well to do folks do? >>guest: well, of course, california comes to florida the difference between england and the united states, in great britain you can by living a year abroad and coming back for 89 years, you can get out of the income tax and capital gains. in the united states, you are a tax captive worldwide for life but can you escape the huge taxes on spending and sales tax and of course all the charges and fees that the governments now charge in addition to the taxes. so an american can escape somewhat but not as effectively as the british. when margaret thatcher reduced the tax we saw an explosion of enterprise and of course a wave of tax revenue came rolling in. we were able to have a debt repayment schedule and the tax emigres came back from the tax havens that remain in the brit
, democratic congressman from california. congresswoman, go do have you back. >>guest: thank you. good to be back. >>neil: i take it from the president's remarks today that it has to be a rate hike on the rich and deductions and playing around with credits and tax breaks will not cut it, did i interpret that correctly? >>guest: no, i do think you interpreted it correctly but it will be interesting to see exactly what the details are. i will look forward to that. in terms of the c.e.o.'s that are meeting with the president right now i will be curious to see what they say but there have been indications from many sectors of the business community including the chamber of commerce, they want to see a deal and everyone has been saying that people do see the need --. >>neil: but chamber of commerce, tom donohue, he is across the street, and he wasn't invited. >>guest: he wasn't? that is interesting. >>neil: i was shocked i wasn't invited. >>guest: neither was i. >>neil: here is what i want to know, it would seem that company, had key congressional caucuses, progressive caucuses and the like
Search Results 0 to 7 of about 8 (some duplicates have been removed)